"It is no longer sufficient just to have a product that is here and now, while the customer or tourist is here with us," Mr Chan added."In fact, chances are that we will have to develop an end-to-end system."
Still, he indicated that the aim was to divert some of the more than S$34 billion that Singaporeans spent on overseas travel in 2018 into local tourism and lifestyle businesses. Meanwhile, the STB on Wednesday launched a risk-management framework for meetings, conventions, exhibitions and trade shows which have been put on hold since March.
Still, domestic spend is not expected to single-handedly rescue the ailing tourism industry from its plight. Michael Chiam, a senior lecturer in tourism at Ngee Ann Polytechnic, told The Business Times that domestic tourism"cannot make up for the contributions made by international travellers", with any rebound likely to come only in 2021 - at the earliest.
Yet Singapore Retailers Association council member Joshua Koh believes that locals"generally still want to spend, they still want to shop"."In terms of margins being tight, definitely the retailers will have to give some promotions out there to attract consumers," said Mr Koh, the CEO of furniture retailer Commune Lifestyle.
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